The May residential rental vacancy rate for Ballarat increased slightly to 2.8%, up from 2.7% in April according to the latest figures released by the Real Estate Institute of Victoria.
Ballarat’s median rent for houses increased to $340 per week, up from $320 per week in April and units/townhouses also increased from $268 per week to $280 per week in May.
The Regional Victorian vacancy rate climbed from 1.9% to 2.0% over the month, however median house rents remain unchanged on $350 per week while units rose $10 to $290 per week.
In Geelong, house rental prices shrunk by $12 to $388 per week while house rents in Bendigo fell by $30 to sit at $330 per week.
The vacancy rate in Melbourne increased to 2.8% from 2.5% in April while median rents for houses in Metro Melbourne decreased $10 to $455 per week and the median rent for units also decreased by $15 to $400 per week.
Source: REIV
Australian residential property values have continued their upward trend in recent months, though June saw a deceleration with both houses and units recording a modest 0.2 per cent monthly increase. The ongoing scarcity of available properties and limited listings has intensified competition, driving up prices in both capital cities and … Read more
Property prices continue to rise nationwide, with significant growth in both metropolitan and regional areas. Regional markets show less dramatic changes, with Western Australia leading despite median prices remaining under $500,000, making it one of the more affordable regions. South Australia and Queensland demonstrate steady growth at 2.6 per cent … Read more